First-ever psychedelics ETF will begin trading on the Canadian NEO exchange this week

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Toronto-based Horizons ETFs Management Inc. is launching the first-ever psychedelics exchange traded fund (ETF) this week, reports Business Insider . The ETF will begin trading on the NEO Exchange on Wednesday and pull together publicly-traded companies that are developing psychedelic therapies and services. Mind Medicine announces study evaluating effects of microdosing LSD Report: UFC discussing psychedelic therapies with Johns Hopkins as possible treatment for fighters’ brain health Could legal psilocybin retreats be coming to North America? Last March, Mind Medicine became the world’s first publically traded psychedelic company after it began trading on the NEO Exchange. On Friday, Horizons ETFs Management announced that the ETF had been conditionally approved for listing. “After decades of restrictions, recent policy changes and exemptions in Canada and the United States have allowed for increased research in the therapeutic application of psychedelic compounds, and the potential to create an entirely new marketplace for drugs derived from psychedelics,” said Steve Hawkins, president and CEO of Horizons ETFs. In 2017, Horizons launched the first cannabis-focused ETF. “We see many similarities between that industry in 2017 when it was in its infancy to the psychedelics industry now,” Hawkins said. In an interview with The GrowthOp last year, Mark Haden, the executive director of the Multidisciplinary Association for Psychedelic Studies (MAPS) Canada and an adjunct professor at the University of British Columbia, said “cannabis is a product and psychedelics are a service.” “Cannabis can be safely consumed by most adults, without doing harm to themselves or others. Psychedelics need a container of safety that needs to be structured,” Haden said, adding that he believes those focused on bettering mental health treatments and those focused on making money can work in unison to push psychedelics forward. “They’ll be a huge number of people who want to improve treatments and a…

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